The sports betting industry is one of the most dynamic and exciting in the world, with the sector expertly leveraging technology to its advantage. Fresh innovations are impacting sports betting on a weekly basis, creating a landscape where customer engagement is at an all-time high. Read on as we analyse some of the latest developments in sports betting, starting with one which has been created by an Irish software company.
The Unit Takes Mobile Betting to Another Level
One of the greatest technological advancements of the 21st century has been smartphones. they have become a pivotal part of our lives and given rise to mobile betting. By opening mobile betting apps on their phones, punters have the luxury of wagering on sports events whenever and wherever they want.
Mobile sports betting apps already boast a plethora of exciting features including in-play wagering, which allows punters to place bets as the action unfolds.
Dundalk-based company The Unit is taking things to another level, with their betting apps capable of delivering ‘real-time’ statistical data to sports bettors. The Unit-built apps use machine learning algorithms for predictive insights and forecasting potential outcomes based on real-time data.
In the future, mobile apps will use artificial intelligence (AI) to understand user preferences and offer personalised betting options, odds suggestions, and alerts for potential betting opportunities. Augmented reality (AR) and virtual reality (VR) are also on course to be integrated into apps. They can transport users to the game or provide AR overlays with statistics and highlights. Facebook has been working on mimicking the National Basketball Association’s courtside seat in VR. They launched a new generation of Oculus VR devices and are in discussion to add more VR NBA games next season.
Major League Baseball is also improving its stats to prepare more augmented reality offerings. The National Hockey League and Major League Soccer are working on upgrading their VR and AR offerings too, as they prepare for the future. Proper AR and VR use is still in its early stages but will become more common as companies like Google, Apple, and Facebook look to improve their offerings.
There’s already intense competition in the smart glasses market, which will only lead to progress and more immersive AR and VR devices.
Crypto is a Game-Changer in Sports Betting Tech
Cryptocurrencies have grown in importance over the years and will play a crucial role in advancing sports betting.
Digital currencies such as Bitcoin, Ethereum, and Litecoin have gained popularity and are now being widely accepted as forms of payment. Cryptocurrencies have several advantages over traditional payment methods. Using them offers bettors more anonymity, while transactions are processed faster and with lower fees.
They are also safe as they employ data structures with security qualities, which makes them an attractive option for players and different betting platforms.
Cryptocurrencies are becoming increasingly popular globally and will likely play an important role in shaping the future of sports betting.
However, despite the surge in popularity, several countries have been wary about the volatility of cryptocurrencies. These include the United Kingdom and Ireland. However, the latter recently relaxed its stance, with the Central Bank of Ireland adopting the Markets in Crypto-Assets Regulation (MiCAR) regulatory framework for European crypto-assets.
MiCAR has been designed to protect consumers and investors and avoid risks to financial stability. CBI president Gabriel Makhlouf has always been a vocal critic of cryptocurrencies but has shown increased openness towards stablecoins.
The CBI now allows betting apps in Ireland to accept digital currencies, and several operators have already started to gravitate towards them. While it may be some time before they replace more traditional payment methods, their availability is a big boost to punters.
Leveraging Biometrics for Identity and Responsible Gambling
Biometrics has not fully taken off as a preferred method of account security, but this will likely happen in the coming years. Facial recognition and fingerprint scanners allow players to log in safely and seamlessly. With this technology fully functioning, only authorised individuals can access betting platforms. Biometrics will ensure user accounts are extra protected and double as a tool for age verification that helps to prevent minors from sneaking into the gambling arena.
The technology can also be used to promote responsible gambling. AI systems can analyse a user’s biometric data, heart rate, or sweat patterns. If the system identifies risky gambling behaviour from subtle changes, it can intervene to offer breaks, set spending limits, or connect with support resources. This approach helps to keep players in control of their habits and keep the gambling experience healthy. Despite massive investments in behavioural biometrics in the UK and Ireland, several Irish sports betting apps listed at dundalksport.ie have pushed back against using them.
However, as the technology becomes more sophisticated, betting operators will likely embrace what biometrics has to offer from a security perspective.